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Classic strategic planning approach
Classic strategic planning approach
Notes chapter 17 market research business
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J. Crew, also known as J. Crew Group Inc., is a private label company known for its preppy fashions that are fashionable yet costly. Essentially, the company was owned by the Cinader family for most of its history. Mitchell Cinader and Saul Charles founded the company in 1947. It was originally known as Popular Merchandise Inc. doing business as the Popular Club Plan, in which Mitchell’s son Arthur was the overseer. The company sold women’s clothing through in-home demonstrations. In the early 1980’s, Cinader and Charles observed catalog retailers such as Land’s End, Talbots and L.L. Bean reporting rising sales in revenue. With intentions to increase sales and duplicate success of these well known companies, Popular Club Plan began its own catalog (http://www.fundinguniverse.com/company-histories/j-crew-group-inc-history/). Along with this innovation of trying to drive sales, the Popular Club began to find its brand image. The company’s focus was leisurewear for upper-middleclass customers, seeking the Ralph Lauren look at a much lower price. The company’s merchandise style was a combination of Ralph Lauren, on the high end, and the Limited, on the lower end. Popular Club wanted to signify a “preppy spirit,” in doing so they renamed the operation J.Crew. In January 1983, the company mailed its first catalog to its customers (http://www.fundinguniverse.com/company-histories/j-crew-group-inc-history/). This will be the beginning of a thriving company. Over the years, J. Crew’s catalog incorporated a unique look featuring young, attractive, models having fun in different appealing backgrounds. The photographs in the catalog appeared to be photographed at a house party of friends. Many of the photographs taken featured the same ... ... middle of paper ... ... fashion industry. I believe through all of their marketing tactics and great leadership they will continue to thrive. Although I am not a customer of the brand, I have found great interest in completing this product to explore and expand and broaden my fashion in the brand. The company has had consistent sales increase and if it continues to utilize its business plans wisely, I believe it will continue to increase. I would suggest that they incorporate more diversity in their ads and campaigns to reach different ethnicities if they want to continue to expand. Also, in stores, particularly the Willow Grove, PA location, is very large and spacious. Upon entering the store it is primarily women’s apparel and accessories, as well as men’s. Maybe the company can incorporate more of its products in this location, to provide consumers with more of a product assortment.
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
This past month I made my last visit to the popular teenage/college student retail store Abercrombie and Fitch. Finishing up some back to school shopping, I was on a quest for jeans, and I knew the place to get them. My last two favorite pairs were from Abercrombie and Fitch, and I was planning on buying the same kind once again. Happy and relieved that I would not spend the afternoon ransacking the mall for one pair of jeans, I entered the store to the pulsating beat of techno dance music. In front of me was the teenage Mecca of what is truly hip -- the first thing I noticed were the life-size pictured that covered the walls -- half-clad muscular and glistening young men, frolicking around with pouty faced but beautiful young women who were wearing either size 2 short shorts with bikini tops or 3 layered sweaters. The tables were covered with overpriced shorts, shirts, and sweaters, strewn about by desperate customers searching for the perfect outfit. The sales people who roamed the floors were definitions of cool themselves -- ranging from age 16-22, they modeled their employee discounts in a haughty way which encouraged the customers to strive for their ultra-hip look. And strive the customers did. What was the most noticeable upon entering the store (besides the blaringly loud music which made me wonder if I was at a clothing store or a dance club) were the herds of desperate young men and women, who seemed to range from age 12-25, strutting around the store and searching for anything that had the name A&F on it. I can only imaging how many nights of baby-sitting it would take some of these eager teenagers to buy one sweater. The young custome...
Offering special products is marked under strengths and opportunity; however, long term sustainability must ease the weaknesses and threats posed by competitors and external markets forces. However, they are several other strengths of this company that outweigh the weaknesses but can easily be threatened. Lululemon has a great brand equity and knowledge in the market which has helped them development a customer loyalty. While Lululemon’s strengths is challenging, limiting their products to a special market, with higher than normal prices opens the markets for competitors. Lululemon has several weaknesses, they only offer a specialty product and it mostly aimed to attract woman. The company’s profitability has decreased over the recent years, showing the necessity for Lululemon to sustain its economic growth through product diversification and geographical expansion. Many of their competitors have grown, mostly likely due to their global growth and divarication. If Lululemon would expand their market growth this would open up so much more opportunity for this company to grow. One of their weaknesses is there is the dependence on suppliers. This opens a great opportunity for Lululemon, right now they are heavily relying on suppliers around the world and they do not have their own manufacturing facilities. This is causing the company to spend more money of vendors to
As a citizen of America you have definitely seen a store owned by Gap Inc. such as stores like Old Navy, Gap, Banana Republic, Etc. These stores represent an ionic and proud American store since 1969 which has multiplied since they opened their first store in San Francisco. This marked the first of many stores that would open and take over America. Gap became an icon as it started to multiply as larger variety stores came about. Such stores as Old Navy taking over the lower budget gap clothing to Gap as a middle budget and on to Banana Republic which serves as a high profile high budget Gap Inc. store. Gap Inc. To the eyes of Don and Doris Fisher opening the first store was more than just selling jeans; it was to serve the people and to gain integrity. They also wanted to create a lasting impression to the consumers. This has become the mission statement for Gap Inc. and has stuck with them ever since they opened their first store. Gap has broadened their products from the jeans that Doris and Don could not fit and made to the countless of apparel items and accessories that they offer.
JD specialises in clothing and footwear and they make clothing for men, women and juniors. Big brands such as Adidas, Nike and Fred Perry sell their goods to JD and then JD sells the goods to the public. This is a good thing as all of the biggest brands are available on one website.... ... middle of paper ...
The company that I picked was Under Armour. According to reuters.com, a website that evaluates individual companies, “Under Armour is in the development, marketing, and distribution of apparel, footwear and accessories” (Reuters). The Under Armour headquarters is located in Baltimore, Maryland. Under Armour is a national corporation which sells their products mainly in North America. Under Armour also sells its products international in countries like Europe and Japan. The target customers for Under Armour are men, women, and children. This is the marketing plan for the company Under Armour.
Ron Johnson’s leadership as CEO was short lived and only lasted for 17 months. He used strategy from his experience at Apple and Marvyn’s instead of using strengths, weaknesses, opportunities, and threat (SWOT) analysis to formulate a new strategy for J.C. Penney. In his attempt to rebrand J.C. Penney, Johnson changed the pricing, marketing and the store layout and design all at once. I would have gradually made the changes or at best, have a focus group (Rosa, 2013).
Steve and Barry’s were founded by two guys named Steve Shore and Barry Prevor. They saw that students in college had to pay $40.00 for their schools sweatshirts, and they thought they could do better than that. Steve and Barry recognized that there was a tremendous opportunity and set to work at identifying a solution. The result to all that researching and development was Steve and Barry’s University Sportswear. Ever since then they have had a motto, “Offer the largest selection of high quality graphics and garments, all at prices substantially lower than those previously available at college bookstores” (Steve and Barry’s University Sportswear 1). They started this business in Long Island, New York by traveling to flea markets around New York. They open their first store in 1985 at the University of Pennsylvania. The store was a big hit and they opened many stores after that. They opened their first mall based store in 1998 near Detroit, Michigan.
I believe American Eagle Outfitters should try to venture into the international market to increase their sales and become more known worldwide. It would benefit American Eagle to become an international company also to broaden their target market and customer loyalty. Introducing a business line in their company can also benefit American Eagle since some of their competitors have not entered into that arena as of yet. If American Eagle delivers a strong marketing campaign and increases promotion of their company this would definitely benefit the company in the ling run against the changing market.
Discovery Clothing is a clothing retailer in Chicago. The store is more commonly referred to as Discovery, as displayed by the moniker outside of the store. The discovery provides a huge selection of fashionable merchandise – from clothing and shoes to jewelry and purses – for the typically junior-sized woman. There are over 25 locations of Discovery Clothing Company mainly in the Chicago. I work at the location in Berwyn, along with 27 other employees. On the day of orientation, all new employees are introduced to Discovery’s standards of behavior, as listed in the official employee handbook.
Analysis of JD Sports Fashion Plc, including detailed business description, corporate strategy and SWOT analysis.
The Gap was bound for success early on because the utility of its product mix (Etzel, Stanton, Walker, 2004) was perfect for a specific market segment. The Gap offered a classic line of khaki pants and cotton button-down shirts (p.200), perfect for the new "business-casual" look, and gained great bra...
INTRODUCTION: As a retail major at Florida State, I have been able to learn a lot about my love for fashion. One thing that is true about me is that I love to understand the origins behind different subjects, whether that is my family or, in this case, piece of clothing. Perfectly tying those two worlds together, I am going to be talking about the origins of denim jeans. First I will go over the history, then I will go over how jeans became popular, and lastly I will talk
Founded by James Cash Penney in 1902, J.C. Penney is one of the largest apparel, domestic retailers with approximately one hundred thousand employees in over one thousand retail locations in the United States (JCPenney, n.d.b). The company was established on the Golden Rule (also the name of its first store) to treat others as one would like to be treated (JCPenney, n.d.b). Although the organization was founded as a small business in Kemmerer, Wyoming, J.C. Penney is currently a thirteen billion dollars publicly-traded corporation that is headquartered in Plano, Texas (JCPenney, n.d.b). Therefore, to better understand its growth, J.C. Penney’s strategy, marketing, finance, human resources, and operations have to be evaluated.
His family owned garment factories across Asia, and had been supplying merchandise to traditional retailers for decades. The fast fashion business was something that he wanted to grow, and he felt that I would be the right person to help him do it. We opened an office in Los Angeles and got to work! I traveled to Europe frequently to shop the market for trends, while working closely with our buyers to ensure that we were producing styles that met their specifications. I traveled to Asia to work with the factories in the development of samples, learning a great deal about the manufacturing process. Despite the economic downturn, I knew that there had to be a way to create a healthy ecosystem, comprising of manufacturers, middlemen and retailers. My goal was to minimize waste and maximize fabric yields in order to increase our margins. In doing so, I was able to bring in $2.5 million in sales in the first year, while establishing partners with all the major fast fashion chains in the